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To: Les H who wrote (20857)	11/30/2012 11:14:56 AM
From: Les H	1 Recommendation of 29601

Retirees blunting the Fed’s easing Low interest rates fail to spur spending Elizabeth Dexheimer \| Bloomberg News WASHINGTON – John Rodwick cuts corners so he has money to spend on his seven grandchildren and cruise around the Rocky Mountains with his wife, Jean, in their blue-trimmed Roadtrek motor home. “My wife and I love to travel, so that is our one big expense, but we are very, very conservative,” cooking and sleeping in their 19-foot vehicle, said the 72-year-old former business professor. With the value of their three-bedroom home plunging 30 percent in the past six years, the Rodwicks have become “very cost-conscious,” he said. Federal Reserve officials say they’re concerned that retirees like the Rodwicks are blunting the effect of record easing aimed at creating jobs. The reason: Older people are more likely to forgo purchases of houses, cars and other big-ticket items that the Fed is trying to encourage with near-zero interest rates. And their numbers are growing, making the Fed’s task ever harder. journalgazette.net

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